Independent Reserve cryptocurrency exchange was established in 2013 to cater to the cryptocurrency trading and investment needs of people from Australia and New Zealand. The company is fully compliant, regulated, and a part of the ADCA (Australian Digital Commerce Association). The exchange undergoes regular audits and it is also under the constant supervision of the Australian Transaction Reports and Analysis Centre (AUSTRAC).
Independent Reserve crypto exchange is legally required to verify the identity of all its account holders. Certain information is requested by the exchange depending on the nationality or location of the account holder. The provided information is then be checked with the databases of the account holder’s country, as well as with various Anti-money laundering and Counter-Terrorism Financing databases.
While the platform is tailored for residents of Australia and New Zealand, residents from 30+ countries can also make use of the exchange. The platform supports four major fiat currencies - AUD, NZD, SGD, and USD.
Markets
There are four markets available on the Independent Reserve cryptocurrency exchange and they are all fiat-based. These markets are AUD, NZD, SGD, and USD markets. The platform is predominantly a crypto-to-fiat and vice versa exchange. Independent Reserve spot trading has features like Limit Buy, Limit Sell, Market Buy, Market Sell, Stop Limit Buy, and Stop Limit Sell. The platform does not support futures, margin, or derivatives trading. There are 65 Independent Reserve trading pairs available for trading on the exchange.
There are no Independent Reserve crypto fees for crypto deposits. However, only deposits from 100 AUD and above are free. Deposits below 100 AUD incur a 0.99 AUD processing fee. Similarly, deposits below 5000 NZD incur a processing fee of 15 NZD, while those above 5000 NZD are free. The same amount applies to USD deposits. There is an Independent Reserve exchange fee of 20 USD for incorrect or missing payment references. This is to cover the cost of tracking the payment if it has not been reflected in the user's account. Deposits into your trading account can be made through bank transfers or SWIFT transactions.
Trading fees are structured in a way that offers lower trading fees to traders who have a high Independent Reserve trade volume. The amount paid as trading fees ranges from 0.50% to 0.02%.
Australian dollar withdrawals are free of charge. However, for international withdrawals, the exchange charges a withdrawal fee of 20 USD. SDG withdrawals are more expensive, with a fee of 0.55% of the amount to be withdrawn. For cryptocurrency withdrawals, the fees charged vary depending on which crypto you are withdrawing. Independent Reserve crypto price for Bitcoin withdrawals is set to 0.0003 BTC.
About the Company
Independent Reserve cryptocurrency exchange was founded in 2013 by Adam Tepper and Adrian Przelozny. The company is based in Sydney, Australia.
The exchange’s vision is to build Australia’s most secure and trusted way to buy Bitcoin and other cryptocurrencies. Moreover, they aim to transform cryptocurrency technology into secure, robust, and regulated financial service.
The platform has grown to serve over 250,000 Australian, New Zealand, and global customers. Besides, the exchange is trusted by thousands of Self-Managed Super Funds. The 24-hour Independent Reserve trade volume in December 2022 was $17 million.
Since their launch, they have built a world-class order book exchange and OTC service desk, expanded operations to South-East Asia, and they continue to build new features and partnerships that add value to their users.
Independent Reserve Cryptocurrency exchange is fully focused on offering world-class security for its customers, featuring 2-factor authentication, ISO 27001 certification, and top-tier underground vaults used to protect their crypto. Furthermore, the exchange is overseen by an experienced advisory board, chaired by Mike Tilley, the former CEO of Merrill Lynch Australia and Challenger Limited. Independent Reserve is an audited and Gold Certified member of Blockchain Australia, which represents the cryptocurrency industry in Australia.
CEO Adrian Przelozny is a board member of Blockchain Australia. He has contributed to the Australian Blockchain Roadmap and provided arguments against the cash ban.
